09:02     NEW WORLD CHINA<00917> - Announcement (1)                           

    The Stock Exchange of Hong Kong Limited takes no responsibility for       
    the contents of this announcement, makes no representation as to its      
    accuracy or completeness and expressly disclaims any liability            
    whatsoever for any loss howsoever arising from or in reliance upon        
    the whole or any part of the contents of this announcement.               
                                                                              
    New World China Land Limited                                              
    (Incorporated in the Cayman Islands with limited liability)               
    (Stock Code : 917)                                                        
                                                                              
    DISCLOSEABLE TRANSACTION                                                  
                                                                              
    SALE AND PURCHASE OF INTERESTS IN DALIAN IFC AND DALIAN NWH               
                                                                              
    Pursuant to the Agreement dated 8 February 2005, Beijing Bank has         
    agreed to sell and NWDC, a wholly-owned subsidiary of the Company,        
    has agreed to purchase 70% of the equity interest in Dalian IFC and       
    65% of the equity interest in Dalian NWH for an aggregate                 
    consideration of RMB440,000,000 (equivalent to HK$415,096,000).           
                                                                              
    DISCLOSEABLE TRANSACTION                                                  
                                                                              
    According to the Listing Rules, the Agreement constitutes a               
    discloseable transaction for the Company which is subject to the          
    notification and publication requirements as set out in Rules 14.34       
    to 14.39 of the Listing Rules. A circular containing details of the       
    Agreement will be despatched to shareholders of the Company as soon       
    as practicable.                                                           
                                                                              
    SALE AND PURCHASE OF INTERESTS IN DALIAN IFC AND DALIAN NWH               
                                                                              
    The Agreement                                                             
                                                                              
    Date   8 February 2005                                                    
                                                                              
    Parties   (1) Beijing Bank, as the vendor                                 
                                                                              
    (2) NWDC, a wholly-owned subsidiary of the Company, as the purchaser      
                                                                              
    Beijing Bank was the owner of 70% of the equity interest in Dalian        
    IFC and 65% of the equity interest in Dalian NWH.                         
                                                                              
    NWDC was the owner of 30% of the equity interest in Dalian IFC and        
    30% of the equity interest in Dalian NWH.                                 
                                                                              
    Major terms of the Agreement                                              
                                                                              
    Pursuant to the Agreement, Beijing Bank has agreed to sell and NWDC       
    has agreed to purchase the Sale Interests, including 70% of the equity    
    interest in Dalian IFC and 65% of the equity interest in Dalian NWH.      
                                                                              
    The aggregate consideration payable by NWDC to Beijing Bank for the       
    Sale Interests is RMB440,000,000 (equivalent to HK$415,096,000),          
    which will be paid in cash by 5 instalments, the amount and due date      
    of each are as follow:                                                    
                                                                              
    (1)     RMB88,000,000 (equivalent to HK$83,019,200) within 10 Business    
    Days from the date of the Agreement;                                      
                                                                              
    (2)     RMB44,000,000 (equivalent to HK$41,509,600) within 10 Business    
    Days from the date on which the business registrations of each of         
    Dalian IFC and Dalian NWH reflecting the changes in shareholding are      
    completed;                                                                
                                                                              
    (3)     RMB88,000,000 (equivalent to HK$83,019,200) on or before 25       
    December 2005;                                                            
                                                                              
    (4)     RMB88,000,000 (equivalent to HK$83,019,200) on or before 25       
    December 2006; and                                                        
                                                                              
    (5)     RMB132,000,000 (equivalent to HK$124,528,800) on or before 25     
    December 2007.                                                            
                                                                              
    In accordance with the terms of the Agreement, the Company executed       
    a letter of guarantee on 8 February 2005 and pursuant to which, the       
    Company shall provide unconditional and irrevocable guarantee to          
    Beijing Bank in respect of all payment obligations of NWDC under the      
    Agreement. The consideration for the acquisition will be satisfied        
    by using the Company's internal resources and/or external financing       
    obtained by the Company.